Shopify (NYSE:SHOP) Stock Rating Lowered by Atb Cap Markets

Shopify (NYSE:SHOP) (TSE:SHOP) was downgraded by equities research analysts at Atb Cap Markets from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

Several other equities research analysts have also issued reports on the stock. UBS Group raised their target price on shares of Shopify from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. The Goldman Sachs Group boosted their target price on Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday. Evercore ISI increased their price target on Shopify from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Truist Financial raised their price target on Shopify from $65.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday. Finally, Robert W. Baird increased their target price on Shopify from $90.00 to $126.00 and gave the stock an “outperform” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and a consensus price target of $94.95.

Shopify Trading Up 5.7 %

Shares of SHOP stock opened at $115.13 on Tuesday. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $148.56 billion, a price-to-earnings ratio of 107.60, a price-to-earnings-growth ratio of 3.64 and a beta of 2.36. Shopify has a 12-month low of $48.56 and a 12-month high of $115.62. The stock’s 50-day moving average price is $80.36 and its 200-day moving average price is $70.50.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, November 12th. The software maker reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. Shopify had a net margin of 16.84% and a return on equity of 11.94%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.11 billion. Equities research analysts predict that Shopify will post 0.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Shopify

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. lifted its holdings in Shopify by 14.7% in the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock valued at $5,078,176,000 after purchasing an additional 8,131,160 shares in the last quarter. Capital World Investors raised its position in shares of Shopify by 26.2% in the first quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock valued at $3,840,332,000 after buying an additional 10,340,040 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Shopify by 1.7% in the first quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock worth $3,309,154,000 after buying an additional 713,064 shares in the last quarter. FMR LLC boosted its position in Shopify by 16.1% during the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock worth $3,389,637,000 after acquiring an additional 5,869,795 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Shopify by 21.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock valued at $2,642,265,000 after acquiring an additional 5,982,434 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Company Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company’s platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.